SolarCity turns to retail investors for cash

Jan 15, 2014 by Jonathan Fahey

The solar panel installer SolarCity is turning to retail investors for cash. The company says it plans to sell securities directly to individuals and others interested in investing in its rooftop solar systems.

The move is a novel way for the San Mateo, Calif., to finance the enormous cost of installing panels on thousands of roofs—a typical residential system costs $25,000—while appealing directly to who are on the hunt for better rates of return than they can find in savings accounts and government bonds.

The securities, likely similar to bonds or certificates of deposit, would be backed by hundreds or thousands of contracts with rooftop solar customers. Wall Street has long created these types of bundled products.

CEO Lyndon Rive says he expects to eventually raise "billions" of dollars this way.

Explore further: Free public education that pays for itself?

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Google invests $280 million to spur home solar

Jun 14, 2011

(AP) -- Google is investing $280 million to help private homeowners put solar panels on their rooftops. It's Google's latest - and largest - investment in clean energy.

Dutch roof fire warning for 650,000 solar panels

Feb 19, 2013

Hundreds of thousands of solar panels are at risk of setting roofs on fire because of an electrical fault, Dutch authorities and media warned Tuesday, with 15 roof fires already reported in Europe.

Free public education that pays for itself?

Jan 09, 2014

Education funding, particularly at university level, is tighter than ever under current austerity measures. A new study published by SAGE in the journal Theory & Research in Education proposes a radical new approach that o ...

US solar installations soared 76% in 2012

Mar 18, 2013

Solar panel installations in the U.S. grew 76% in 2012 as the cost of panels and the surrounding equipment continued to fall, according to an annual report by a solar trade group.

Recommended for you

The state of shale

17 hours ago

University of Pittsburgh researchers have shared their findings from three studies related to shale gas in a recent special issue of the journal Energy Technology, edited by Götz Veser, the Nickolas A. DeCecco Professor of Che ...

Website shines light on renewable energy resources

Dec 18, 2014

A team from the University of Arizona and eight southwestern electric utility companies have built a pioneering web portal that provides insight into renewable energy sources and how they contribute to the ...

Better software cuts computer energy use

Dec 18, 2014

An EU research project is developing tools to help software engineers create energy-efficient code, which could reduce electricity consumption at data centres by up to 50% and improve battery life in smart ...

Cook farm waste into energy

Dec 17, 2014

It takes some cooking, but turning farm waste into biofuels is now possible and makes economic sense, according to preliminary research from the University of Guelph.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.